Anfield Energy Announces Closing of US$6,000,000 Non-Brokered LIFE Offering of Common Shares and Concurrent US$4,000,000 Non-Brokered Private Placement of Subscription Receipts

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VANCOUVER, British Columbia, Jan. 13, 2026 (GLOBE NEWSWIRE) — Anfield Energy Inc. (TSX.V: AEC; NASDAQ: AEC; FRANKFURT: 0AD) (“Anfield” or the “Company”), is pleased to announce that it has closed its previously announced non-brokered private placement of 1,345,292 common shares in the capital of the Company (the “LIFE Shares”) at a price of US$4.46 per LIFE Share (the “Issue Price”) for gross proceeds to the Company of US$6,000,000 (the “LIFE Offering”). The LIFE Shares were issued pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”), as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the “Listed Issuer Financing Exemption”).

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The Company also announces that it has closed its previously announced concurrent non-brokered private placement of 896,861 subscription receipts of the Company (the “Subscription Receipts”) issued to UEC Energy Corp. (“UEC”), a subsidiary of Uranium Energy Corp. (NYSE American: UEC) (“Uranium Energy”), which is an insider and controlling shareholder of the Company, at the Issue Price for gross proceeds to the Company of US$4,000,000 (the “Concurrent Offering” and together with the LIFE Offering, the “Offering”). As a result, the total gross proceeds from the Offering were US$10,000,000.

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Each Subscription Receipt entitles UEC to receive, upon satisfaction of the Escrow Release Conditions (as defined below) on or prior to 5:00 p.m. (Vancouver time) on March 31, 2026 or such other later date as may be specified by UEC in writing (the “Escrow Release Deadline”), one (1) common share in the capital of the Company (each, a “Common Share”), without payment of additional consideration and without further action on the part of UEC. The Company requires the approval of the TSX Venture Exchange (“TSXV”) of the participation of Uranium Energy through its wholly-owned subsidiary, UEC, in the Concurrent Offering and, pursuant to the policies of the TSXV, the approval of the disinterested shareholders of the Company of Uranium Energy as a “Control Person” of the Company (as such term is defined by the policies of the TSXV) by at least a simple majority of the votes cast at a special meeting of shareholders of the Company (the “Special Meeting”), excluding votes attached to Common Shares held by Uranium Energy and its “Associates” and “Affiliates” (as such terms are defined by the policies of the TSXV) (the “Escrow Release Conditions”). The Company anticipates holding the Special Meeting on or about February 27, 2026.

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The Company intends to use the net proceeds from the Offering to fund capital commitments to the West Slope Project, Velvet-Wood Project, the Slick Rock Project, and Shootaring Canyon Mill and for general corporate purposes and working capital.

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Uranium Energy’s participation in the Concurrent Offering through its wholly-owned subsidiary, UEC, and Mr. Corey Dias’s participation in the LIFE Offering, for 44,882 LIFE Shares and gross proceeds of US$200,173.72, constitutes a “related party transaction” within the meaning of TSXV Policy 5.9 – Protection of Minority Security Holders in Special Transactions and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of the Offering as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves the related parties, exceeds 25% of the Company’s market capitalization. However, pursuant to the policies of the TSXV, the Company will seek the approval of the disinterested shareholders of the Company of Uranium Energy as a “Control Person” of the Company (as such term is defined by the policies of the TSXV) by at least a simple majority of the votes cast at the Special Meeting, excluding votes attached to Common Shares held by Uranium Energy and its “Associates” and “Affiliates” (as such terms are defined by the policies of the TSXV).